The SEC has filled two deputy director posts in the Division of Trading and Markets: Gary Barnett and Gary Goldsholle, officials say. Barnett and Goldsholle succeed former deputy directors James Burns and John Ramsay, who left the agency earlier this year. Barnett will be responsible for the office of broker-dealer finances, and the office of… Read More >>
How the Regulators Got It So Wrong
Government regulators, including Wall Street overseers, undercut their reform efforts by making rules that are so specific that people are focused on specifications and not on resolving problems. So says Philip K. Howard, a lawyer and author of the new book “The Rule of Nobody: Saving America from Dead Laws and Broken Government.” While Howard… Read More >>
SEC Adopts Volcker Rule
The SEC has adopted a final version of the Volcker Rule in a 3-to-2 vote that is a milestone for regulatory reform on Wall Street.SEC Commissioners Daniel M. Gallagher and Michael S Piwowar voted against adoption of the restrictions upon banks and proprietary trading. SEC Chair Mary Jo White and SEC Commissioners Luis A. Aguilar… Read More >>
Is Regulatory Reform Causing Systemic Risk?
A strange irony is underway in the financial services industry. A recent client survey conducted by the DTCC finds that compliance with the regulatory onslaught is causing securities firms the greatest concern over systemic risk. A whopping 82% of clients say that meeting regulatory requirements strains their focus on day-to-day risk—effectively undoing the point of… Read More >>
Filling the Leadership Void
As financial services firms scramble to comply with the onslaught of new regulations, they also have to contend with an absence of leadership among industry bodies tasked with helping create the new rules of the road. Yet the need for strong leadership is becoming more critical and a membership survey by the ISITC trade group… Read More >>
